Tangem doesn't facilitate the direct sales of cryptocurrencies. Instead, the Sell feature is integrated with third-party service providers chosen by Tangem. To comply with AML/KYC regulations, third-party service providers usually ask for sensitive information and personal identification.
The Sell button in Tangem Wallet connects you to an integrated off-ramp service for selling cryptocurrencies and receiving fiat in your bank account.
This is possible thanks to the offramp crypto exchange service Moonpay, which fulfills direct-to-custody trades using your preferred payment method. Tangem Wallet users can sell their Bitcoin and dozens of other cryptocurrencies
You can find a list of payment methods and regions served here.
Using the sell button in Tangem Wallet
1. Open the Tangem app.
2. Select the token you want to sell, for example, USDT.
3. Tap Sell
You will be directed to a secure gateway managed by Moonpay. Follow the given instructions to finalize your transactions. Please note that the Know Your Customer (KYC) requirements may differ based on the amount you want to purchase, but you will likely have to complete a KYC process.
4. Enter your email address and choose either the IBAN (International Bank Account Number) or VISA card where you’d like to receive your funds.
5. Send your crypto to the provided wallet address to instantly convert to fiat currency.
MoonPay handles the conversion process for a fee, and you receive cash in the fiat currency of your choice.